SEOUL — LG Energy Solution has signed a memorandum of understanding with Honda and Hà Nội authorities with the aim of developing a public battery-swapping network for electric motorbikes in the Vietnamese capital, the Korean battery maker has announced.

The three sides agreed to install battery-swapping stations in central Hà Nội, develop standardised battery and safety management systems, and build a business platform model for electric motorbikes.

A pilot project is set to begin in the third quarter of this year, with around 50 battery-swapping stations and 500 electric motorbikes expected to be deployed in key areas of the city.

Under the cooperation, LG Energy Solution will supply 2170 cylindrical batteries and oversee battery safety management, swapping station operations and battery lifecycle systems. Honda will provide battery packs, battery-swapping equipment and electric motorbikes. Meanwhile, Hà Nội authorities will support licensing, issue policies and coordinate local operation.

The partnership comes as Việt Nam accelerates the shift toward electric two-wheel vehicles. Hà Nội plans to begin restricting petrol-powered motorbikes in certain areas and timeframes from July this year, before gradually expanding the measures by 2030.

Việt Nam remains one of the world’s largest motorbike markets though electric motorbikes account for only a small share. The country had around 80 million motorbikes in circulation in 2025, including about 3.2 million electric ones – equivalent to 4 per cent of the total, according to the National Traffic Safety Committee.

Honda holds the lion's share in the local motorbike market, about 86 per cent in 2025, reported the Vietnam Association of Motorcycle Manufacturers.

LG Energy Solution said it expects the trilateral partnership to help expand its electric motorbike battery business in Southeast Asia, describing Việt Nam as a key market in the region’s transition to electric mobility. — VNA/VNS